Thu.May 06, 2021

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Exclusive live interview with Ron Kalifa

Bobsguide

Don't miss this exciting behind the scenes look at the UK Fintech Strategic Kalifa Review. Ron Kalifa, OBE, was invited by the Chancellor of the Exchequer to lead this independent Fintech Strategic review for the UK. Join us on May 13 at 1.30pm BST for the livestream. Register for your.

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The Most Influential Women in Payments: Next

Payments Source

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My Mom Just P2P’d Me

Jack Henry

Scotch Tape is a No-No. My whole life, my mom has been taping money in my greeting cards. It was fun finding it; and typically, the larger denominations were handed in person. That is, until I moved. Now we live 500 miles apart. The first time I received a Benjamin taped down, I realized the pure unbridled sacrilege of it all. But money is money. No matter how old I get, a card is nice, and money from the grandparents warms the soul!

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Another Maryland threat to bank partner model lending

CFPB Monitor

A Maryland administrative action recently removed to the state’s federal district court illustrates how Maryland law continues to present challenges for the bank partner structure used by many lenders. Last month, Bank of Missouri, an FDIC-insured, Missouri state-chartered bank, and Atlanticus Service Corporation and Fortiva Financial, LLC, the Bank’s non-bank service providers, removed an administrative matter filed against them in January 2021 by the Maryland Department of Labor, Office of the

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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API integrator Railz raises $15 million in series A funding

BankInovation

Software provider Railz, which offers an API integration that connects financial institutions with small and mid-sized businesses, today announced a $15 million series A funding round. The fundraising round is indicative of the growing interest in open banking and open finance, said Oliver Yu, an intelligence analyst at business analytics provider CB Insights.

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PPP Funds ‘Almost Exhausted’, Says SBA

Banking Exchange

Alternative and non-bank lenders have featured prominently in the 2021 funding round Community Banking Feature3 Feature PPP Covid19.

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Square's bitcoin business is massive

Payments Source

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Big bank demand for AI talent outpaces supply

BankInovation

Demand for artificial intelligence (AI) experts at financial institutions continues to grow, with banks looking to leverage digital channels and incorporate data-driven analytics into their workflows as the U.S. economy moves toward reopening. American Express and Wells Fargo led the pack among financial services in AI-related job offerings posted in the past quarter, with the […].

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This week’s podcast: The Eleventh Circuit’s troubling and unprecedented FDCPA decision in Hunstein: profound Implications for the collections industry

CFPB Monitor

The ruling that a debt collector’s transmittal of debt information to its letter vendor could violate the FDCPA’s limits on third party communications has produced shock waves. After reviewing the court’s FDCPA analysis, we discuss the decision’s potential application to a range of third party service providers and to first-party creditors and the prospects for rehearing or SCOTUS review.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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After crackdown on Chime, Green Dot trumpets bank status

Payments Source

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Eurobank partners with Temenos

The Paypers

Temenos , the banking software company, has announced that Eurobank in Greece has selected Temenos Wealth to strengthen its position in wealth management and affluent segment services.

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Central bank digital currencies are a gift for the laundering fight

Payments Source

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Master Adaptability to Keep Your Business Viable – Expertise from CCO Mark McGrory.

MerhantsBanks

It has become clear that making sure your business can be adaptable to new situations is essential for its longevity. Chief Credit Officer Mark McGrory shares what his team has seen work to help businesses stay viable when the world asks us to keep up. What are some things you’ve seen businesses do to stay […].

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Small shops find growth through payment automation

Payments Source

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Defining Big Data Characteristics – A Data Scientist’s Life Hack

FICO

In my previous post I talked about external data and data ingestion capabilities a financial platform must have. Now I’d like to describe the capability of developing big data characteristics characteristics from the data, how important this capability is for a financial platform and how banks can use this capability to boost the value received from the data they can access.

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As fintechs develop 'super apps,' are banks partners or rivals?

Payments Source

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Financial Plus Credit Union (MI) Offers Accounts Statewide

BankDeals

Financial Plus Credit Union (MI) has expanded its field of membership and now offers its very competitive rewards checking account, Elite Checking, statewide.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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FIS plans hiring spree to sell new merchant tech

Payments Source

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Virgin Group-Backed LoanSnap Raises $30M To Develop Its AI-Based Smart Loan Technology

CB Insights

LoanSnap , a provider of personalized mortgage loans, has raised $30M in Series B with participation from True Ventures, Baseline Ventures, Virgin Group, and Mantis Venture Capital, among others. How’s the company performing? California-based LoanSnap develops an AI platform that analyzes clients’ financial conditions and designs personalized loans for them.

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Crooks have a novel way to nab payment card info

Payments Source

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E-wallets flourish in LATAM, shows EBANX data

The Paypers

E-wallets have gained momentum in Latin America (LATAM) and are bringing millions of new customers to online commerce, according to internal data from EBANX.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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Fintech bright spot Africa catches up in bumper funding year

Payments Source

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How to teach your kids about money: earning, saving and spending

Qudos Bank

As parents, it’s natural to want your children to have happy, comfortable and fulfilling lives. And you can play a huge role in shaping your little ones’ habits and behaviours to ensure they are set up for success. Building financial literacy and healthy money habits could have a long-lasting effect and contribute to them being able to pay their bills, buy a home and even retire comfortably.

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First AML launches in Australia

The Paypers

Anti-money laundering startup, First AML , has launched in Australia after experiencing demand from the nation’s VC community for solutions that help them manage compliance requirements.

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UK regulators looking to make ‘quick fixes’ to MiFID II

The Banker

Authorities have launched a consultation on the treatment of investment research and reporting requirements for share trading [from Global Risk Regulator].

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.